The World Bank raised its gross domestic product (GDP) outlook for the Philippines to 7.2 percent this year from an earlier projection of 6.5 percent in September. The Washington-based multilateral institution said Tuesday, Dec. 6, that the upward revision was driven by “robust domestic...
President Marcos’ economic team narrowed its growth outlook for next year given the global headwinds, the Development Budget Coordination Committee (DBCC) said. On Monday, Dec. 5, the inter-agency body tasked to set the government’s macroeconomic assumptions revised downwards its gross domestic...
The economic team of President Marcos will keep the government’s growth target this year despite the higher than expected pace of expansion recorded in the third quarter. Finance Secretary Benjamin E. Diokno said the inter-agency Development Budget Coordination Committee (DBCC) will keep its...
The best is yet to come in terms of the country's economic recovery under the Marcos administration. House Speaker Martin Romualdez (Speaker's office) House Speaker Martin Romualdez confidently made this declaration Tuesday morning, Nov. 29 at Business World's Economic Forum held at the Grand Hyatt...
The Department of Finance (DOF) remained confident that the national government’s debt ratio would decline during the Marcos administration despite its recent uptick in the third-quarter. Finance Secretary Benjamin E. Diokno said the government’s ability to pay its debts continues to improve...
The Department of Finance (DOF) said that meeting the government’s economic growth target this year has become more certain, given the sustained recovery of domestic demand and improved labor market conditions. Finance Secretary Benjamin E. Diokno said the government would meet the 6.5 percent to...
The Philippines' neighbors in the Association of Southeast Asian Nations (ASEAN) are both happy and impressed over the country’s apparent economic turnaround under President Ferdinand "Bongbong" Marcos Jr. (Pyrrhus Cunanan/ Unsplash) This was shared by House Speaker Martin Romualdez during a...
The government should not waste any opportunity to sustain the positive momentum of the growth of the Philippine economy, Senate Majority Leader Joel Villanueva said today. Villanueva made this statement following a Philippine Statistics Authority (PSA) report that the Philippine economy is growing...
The country's debt ratio climbed to a 17-year high in the third-quarter this year as new government loans continued to pile up, data from the Bureau of the Treasury revealed. As of September 2022, the outstanding obligations of the national government as a share of gross domestic product (GDP) hit...
The Marcos administration’s planned expansion of "ayuda" or subsidy programs is one way of furthering the country’s economic turnaround, Marikina City 2nd district Rep. Stella Quimbo said Sunday, Nov. 13. Marikina City 2nd district Rep. Stella Quimbo (Ellson Quismorio/ MANILA BULLETIN) "We...
The country’s economic recovery is gaining traction with the better than expected growth seen in the third-quarter, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno said the 7.6 percent gross domestic product (GDP) in July to September reflected the “many good news...
Don't look now, but the peso depreciation these past few months actually had a positive impact on the Philippine economy. (Mari Gimenez/ Unsplash) The House of Representatives' resident economist, Albay 2nd district Rep. Joey Salceda, made this argument during a media briefing Thursday, Nov. 10 as...
